Daily Market Highlights (17.03.2023)

PG pulls the MSE Equity Price Index lower


The MSE Equity Price Index eased by 0.14% to 3,623.834 points as the decline in PG outweighed the gain in MPC. Meanwhile, five other equities closed unchanged as overall trading activity amounted to €0.13 million. Download today’s Equity Market Summary.

Nearly half of today’s value of equities traded was in the shares of PG plc as the equity shed 2.9% to the €2.00 level on four deals totalling 30,700 shares.

In contrast, Malta Properties Company plc rebounded by 1.8% to regain the €0.45 level across three trades totalling 11,090 shares. Earlier this week, MPC published the 2022 financial results showing an improvement in rental income to €4.15 million compared to €3.58 million in 2021, reflecting the new rental income from the Ta’ Xbiex property acquired in March 2022 as well as the handover of the Zejtun Complex to GO plc. As a result, operating profit improved by 31.7% to €2.74 million. Meanwhile, the financial performance was impacted by higher finance costs and a marginal fair value loss on property compared to the €2.22 million fair value gain in the previous year. As at the end of 2022, shareholders’ funds amounted to €55.6 million equivalent to a net asset value of €0.549 per share. The Board of Directors declared a final net dividend of €0.013 (2021: €0.012) per share to shareholders as at close of trading on 13 April 2023.

In the retail banking sector, APS Bank plc (46,852 shares) and Bank of Valletta plc (10,200 shares) closed unchanged at the €0.62 and €0.92 levels respectively.

Malta International Airport plc held the €5.65 level on a single trade of 2,500 shares.

The preference shares of RS2 Software plc closed unchanged at the €1.40 level after recovering from an intraday low of €1.36 (-2.9%) across volumes totalling 5,750 shares.

A single trade of 715 shares left M&Z plc at the €0.65 level.

The RF MGS Index remained virtually unchanged at 885.973 points as the marginal gains across the short and medium term MGS outweighed the sharp declines for longer dated MGS, reflecting a steepening yield curve. Movements across international financial markets remained reflective of the concerns over the health of the banking sector, particularly in the US. US authorities and regulators praised a consortium of banks which agreed to inject USD30 billion into First Republic Bank as it showed the resilience of the banking system. Meanwhile, the Federal Reserve is lending out record amounts to US banks through a new emergency facility aimed at providing the necessary liquidity.


This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.